Are you juggling more debt than you can handle? A Chapter 13 bankruptcy attorney can help you comprehend the Chapter 13 bankruptcy laws, explaining the best options available to you and your family. Filing Chapter 13 bankruptcy can save you years of financial difficulties if you choose a skilled Chapter 13 bankruptcy attorney who will evaluate your situation and suggest an appropriate course of action. If you need Chapter 13 bankruptcy information, we offer customized information and assistance and are committed to serving the interests of our clients.
Chapter 13, a section of the United States Bankruptcy Code entitled “adjustment of debts of an individual with regular income,” supports individuals or small business owners wanting to repay creditors but unable because of financial impediments. Chapter 13 is not available to LLCs, corporations, or other legal entities. Chapter 13 bankruptcy, however, is often well-suited for individuals or households that have cars, houses, businesses, or whose income disqualifies them for Chapter 7.
The debtor makes monthly payments to a bankruptcy trustee when filing Chapter 13. The appointed trustee allocates these payments based on a plan outlined by the courts. Typically, the plan directs the Chapter 13 trustee to pay off back due taxes, domestic support obligations, loans, or home loan payments. The funds can pay some or all credit card debt. Chapter 13 bankruptcy laws can enable you to pay off your debt within 3-5 years.
If you need help filing for Chapter 13 bankruptcy or would like to see if Chapter 13 bankruptcy is your best option, please contact our Chapter 13 bankruptcy attorneys.